Barclays sets aside extra £800m for forex-rigging probe

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Barclays has set aside an extra £800m to cover the costs of a probe into foreign exchange rate-rigging, its latest results reveal.

The bank said it has earmarked the extra cash to cover forex investigations and litigation, taking the total set aside to £2.05bn. In March Barclays said it estimated it would need an extra £750m to cover these costs.  In its results for the first quarter of 2015, the bank reported statutory pre-tax profits fell 26% to £1.34bn, although group adjusted pre-tax profit was £1.85bn, up 9% from the end of March 2014. Adjusting items gave the group a net loss of £511m. These included an additional PPI redress provision of £150m, and an £118m loss relating to foreign currency reserves it re...

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